Guideline Value for Loganathan Chetty Street

Loganathan Chetty Street guideline value

The current guideline value for Loganathan Chetty Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village and falls under the Sembiam SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Loganathan Chetty Street has changed

The guideline value of Loganathan Chetty Street has seen several revisions over the years. In 2002, the value was Rs 360 per sq.ft, which increased to Rs 392 per sq.ft in 2003. Following that, the value rose significantly to Rs 700 per sq.ft in 2007, and then it jumped to Rs 2,500 per sq.ft in 2012. However, there was a decrease to Rs 1,675 per sq.ft in 2017. The value then increased to Rs 2,500 per sq.ft in 2023, before reaching the current rate of Rs 2,700 per sq.ft in 2024.

Between the revisions, the changes were as follows: from 2002 to 2003, there was an increase of 9%; from 2003 to 2007, it rose by 79%; from 2007 to 2012, it increased by 257%; however, from 2012 to 2017, there was a decrease of 33%. The value then increased by 49% from 2017 to 2023, and finally, there was an 8% increase from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 650%.

Guideline values in Peravallur

In Peravallur village, there are 423 streets under the Sembiam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median guideline value for these streets is Rs 3,301 per sq.ft, making the guideline value for Loganathan Chetty Street below this median.

• Loganathan Street (Vetri Nagar Extension): Rs 3,301 per sq.ft (2024)
• Land Acquisation Road: Rs 2,700 per sq.ft (2024)
• Lakshmi Nagar (George Colony): Rs 2,700 per sq.ft (2024)
• Lakshman Nagar West: Rs 2,700 per sq.ft (2024)
• Lakshman Nagar Main Road: Rs 2,700 per sq.ft (2024)
• Lakshman Nagar East Main Road: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Loganathan Chetty Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000. Together, the total cost for stamp duty and registration would be Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Loganathan Chetty Street?

The Sub Registrar Office that covers Loganathan Chetty Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Peravallur

The guideline value is a crucial factor during the registration of property transactions in Peravallur. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When buying or selling property, the guideline value helps in determining the minimum value at which a property can be registered. This ensures transparency in transactions and helps in reducing discrepancies in property valuations.

Frequently asked questions

What is the current guideline value of Loganathan Chetty Street?

The current guideline value of Loganathan Chetty Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly over the years, with an overall increase of 650% from 2002 to 2024. The most recent revision was an 8% increase from 2023 to 2024.

What are the stamp duty and registration fees for property in Loganathan Chetty Street?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 2,43,000.

Which office handles registrations for Loganathan Chetty Street?

The Sembiam Sub Registrar Office handles registrations for Loganathan Chetty Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the guideline value determined for properties in Peravallur?

The guideline value is determined based on various factors, including land classification and previous revisions. It is set by the Registration Department's guideline value register.